TGS Shares received by Board of Directors

May 15, 2017 17:24 ET | Source:TGS

ASKER, NORWAY (15 May 2017) - The Annual General Meeting of TGS held on 9 May 2017 decided that each of the Directors, other than the Chairman, should receive1,650 restricted shares in the Company on 10 May 2017 as part of their compensation. The shares were transferred to the Directors on 10 May 2017.

The attachment shows the number of restricted shares awarded on 10 May 2017 and the total number of shares held by each of the Directors.

The Company has distributed the restricted shares to the Directors from its balance of treasury shares. Following the transfer of restricted shares to the Directors, TGS holds 236,075 of the issued shares as treasury shares.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks,uncertaintiesand assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange(OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".

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